The start of the World Economic Forum in Davos

[Admin]

Wednesday 21 January 2015
| 12:53



Waiting for the participation of several Heads of State or Government in this meeting, the forty-fifth World Economic Forum


Began around 2500 economic and political official in Davos four days of discussions about the economic future of the world in light of the jihadist threat to Europe and tension in Ukraine and uncertainties that weigh on the slowing global economy.

As happens in every year since more than 40 years, to meet the most powerful men and women in the world in the ski resort of Davos, which turned into a fortress, and the main focus of the discussions is the economy.

 Has cut the International Monetary Fund forecast global growth in 2015 as the Chinese economy recorded a slowdown and uncertainty prevails the euro zone, especially because of the upcoming Greek elections Sunday, which could see the victory of the anti-austerity Syriza party policies.

It can be the European Central Bank announces Thursday repurchase shares to boost the economy in the euro zone program, which also will be on the table discussions.

It is expected the participation of several Heads of State or Government in this meeting, the fifth session of the World Economic Forum.

French President Francois Hollande will also attend, as well as the central bank governors and heads of the biggest groups in the world in order to expand their relationships and network search of Economic Affairs.

According to a poll published on Tuesday evening, the major international institutions like the International Monetary Fund and the heads of companies surveyed company "Price Water Coopers" They are less optimistic than before about 2015.


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[Admin]

1/22/2015 00:43





Perhaps the most difficult economic problem that we face is that of a group will be almost absent from Davos Annual Conference which will be held this week: the middle classes in industrialized countries in the world.

 According to a new report of the Commission on «the overall prosperity» of the Center for «American Progress», which I head to the side «Ed Balls», chief economist top of the British «Workers» Party, nothing important to the success of the industrial democracies of the continued rise in wage working families and living standards. In addition to the focus on the global financial and geopolitical conditions and moral obligation to help the world's poor, we must not lose sight of the fact that without fundamental changes in policy, the prospects for the middle class in the world will continue to be bleak at best due to a number of problems.



First, the economic growth, which is a necessary condition for high incomes is now threatened by the specter of recession and deflation.

 In the United States, was expected to make 2014 a year of rising interest rates along with growth accelerating, and the end of quantitative easing and approach tight monetary policy. In Japan, prices were starting to rise again.

 In Europe, the year will see a continuation of the economic reform and normalization.

In fact, the world in general exhausted improvised central banks measures as a strategy for growth; however, the excessive demand and inflation and the need for monetary tightening is the lesser of our fears.

 It is true that central banks still have to do their part, but the time has come to take substantial measures in a coordinated manner in order to raise both the private and public investments.

Second, our economies ability to maintain continued growth and nutrition standards of living are not sure if we continue down the current path where we are going.

 The United States is often offered as a model, and indeed, the performance was strong by international standards; where he enjoyed a growth of nearly 11 percent over the past five years.

 However, it is this, regular economic calculations indicate that about 8 percent can be considered periodically, as a result of decline in the unemployment rate; which leaves only 3 percent over five years can be attributed to the increase in the capacity of the economy.

Then that even after our recovery and economic, the American men between the ages of 25 and 54 unemployed ratio exceeds its counterpart in Japan, France, Germany and Britain.

But on the other hand is the worst prospects for growth in Europe and Japan, where the population Akhdhun shrinking and aging while getting dynamic economic decline and less.

Attributed an important part of the decline in the estimates regarding the potential of the industrialized economies to conditions recession the world has known in recent years.

 In many ways, the strong growth in itself is the best structure to encourage growth policy at a time of rising investment, and gain the experience of workers, and so forth.

 However, it must be done.

Third, in order to benefit from the middle class, must be general and comprehensive prosperity; and that this is the case in the current environment is uncertain.

 In fact, if the United States had the same income, which had a 1979 distribution, he would have 80 percent of the population who are at the bottom trillion dollars more (or the equivalent of $ 11 thousand for the family).

 It was among the 1 percent who are in the top one trillion dollars less (or the equivalent of $ 750 thousand), and is certain that the prospects for continued integration and international cooperation will be weak if some people continued to look to them that they lead to disintegration and lack of local integration and are useful global mobile elite.

Based on the foregoing, the focus of international cooperative efforts in the economic field must change.

 It is true that progress has been considerable progress in trade and investment, and less progress in avoiding «race to the bottom» in areas such as taxation, regulation, and regulation.

 However, it is through the promotion of international cooperation only will be able to maintain the progressive tax policies and adequate protection regarding the legalization and regulation.

And only when ordinary citizens see the benefits in a more open global economy will be achieved.

These three fears - recession and deflation economists, slow economic growth, and rising inequality - real but not inevitable as indicating experiences of many countries, such as Canada and Australia in this century, that the continued growth in the living standards of the middle class is possible verification; but it requires from the elites that be aware of its importance and is committed to achieve. This is a goal that should be Astrh Davos for himself this year.

UAE Union


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